• 25 mins Trader Trafigura Raises Share Of Oil Purchases From State Firms
  • 2 hours German Energy Group Uniper Rejects $9B Finnish Takeover Bid
  • 3 hours Total Could Lose Big If It Pulls Out Of South Pars Deal
  • 5 hours Dakota Watchdog Warns It Could Revoke Keystone XL Approval
  • 22 hours Oil Prices Rise After API Reports Major Crude Draw
  • 23 hours Citgo President And 5 VPs Arrested On Embezzlement Charges
  • 23 hours Gazprom Speaks Out Against OPEC Production Cut Extension
  • 24 hours Statoil Looks To Lighter Oil To Boost Profitability
  • 1 day Oil Billionaire Becomes Wind Energy’s Top Influencer
  • 1 day Transneft Warns Urals Oil Quality Reaching Critical Levels
  • 1 day Whitefish Energy Suspends Work In Puerto Rico
  • 1 day U.S. Authorities Arrest Two On Major Energy Corruption Scheme
  • 2 days Thanksgiving Gas Prices At 3-Year High
  • 2 days Iraq’s Giant Majnoon Oilfield Attracts Attention Of Supermajors
  • 2 days South Iraq Oil Exports Close To Record High To Offset Kirkuk Drop
  • 2 days Iraqi Forces Find Mass Graves In Oil Wells Near Kirkuk
  • 2 days Chevron Joint Venture Signs $1.7B Oil, Gas Deal In Nigeria
  • 2 days Iraq Steps In To Offset Falling Venezuela Oil Production
  • 2 days ConocoPhillips Sets Price Ceiling For New Projects
  • 5 days Shell Oil Trading Head Steps Down After 29 Years
  • 5 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 5 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 5 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 5 days Venezuela Officially In Default
  • 5 days Iran Prepares To Export LNG To Boost Trade Relations
  • 5 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 5 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 6 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 6 days Rosneft Announces Completion Of World’s Longest Well
  • 6 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 6 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 6 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 6 days Santos Admits It Rejected $7.2B Takeover Bid
  • 6 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 7 days Africa’s Richest Woman Fired From Sonangol
  • 7 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 7 days Russian Hackers Target British Energy Industry
  • 7 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 7 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 7 days Lower Oil Prices Benefit European Refiners
Can Russia Break Its Oil Dependence?

Can Russia Break Its Oil Dependence?

Russia’s economic growth is struggling,…

Energy Majors Hit Hard By Climate Regulations

Energy Majors Hit Hard By Climate Regulations

Siemens and General Electric have…

Deal Signed for Vietnam’s Mong Duong Power Plant

Deal Signed for Vietnam’s Mong Duong Power Plant

The US-invested developer of the $2.1-billion Mong Duong 2 thermal power plant in the northern province of Quang Ninh has signed an adjusted build-operate-transfer contract with Vietnam’s Ministry of Industry and Trade.

Vietnamese deputy minister of industry and trade Hoang Quoc Vuong told investors, "The re-signing of the contract which was first signed on April 22, 2010, is due to a change of investors. The contract signed on July 21 marked success in improving the investment environment as well as attracting foreign investors to large power projects in Vietnam," Viet Nam News agency reported.

Under the earlier contract, the site’s developer was the Mong Duong AES-TKV, a joint venture between the U.S. Electric Supply Inc. company and the Vietnamese state-owned mining giant, Vietnam National Coal and Mineral Industries Group. Under the new contract’s terms, The Mong Duong 2 thermal power plant sponsors are now affiliates of AES Corp. (51 percent), Posco Power Corporation of the Republic of Korea (30 percent) and China’s China Investment Corp. (19 percent).

U.S. Embassy economic counselor Jessica Webster said, "The Mong Duong 2 power project represents an important addition to Vietnam's energy production. With this, Vietnam has taken an important step toward meeting its energy challenges."

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News